Housing Sales Summit in the US

First-hand housing sales in the US increased by 6.2 percent in October. With this increase, the highest figure of the last 10 years has been reached. According to a report prepared by the US Department of Commerce, the sales figure increased to 685 thousands. Different estimates were made about this value, which reached the highest level from October 2007 until today. The rate was expected to decrease by 6.5 percent instead of the increase. First-hand house sales increased by 18.7 percent compared to the same period of the previous year. The report prepared by the Ministry of Commerce shocked the real estate industry with these results.

Along with this increase in rates, it may be necessary to rearrange the budgets of those who will buy new housing in the US. Median price for new residential sales increased by 3 percent to 312 thousand 800 dollars. First-hand housing sales for September were revised from 667 to 645.

Experts say there are a number of factors that affect this increase in rates. Thanks to improvements in the US labor market and high consumer confidence, there has been a significant increase in home purchases. According to monthly reports, house sales in October increased by 2 percent, reaching a four-month high. Obtaining very different results from expected results makes it difficult to predict how house sales will be next year. In this case, the increase or decrease in house prices may have a great influence on sales figures.